Section 1 Introduction

This write-up looks at the second quarter of 2020 from a quant’s perspective. In Section 2 we study the change in price and volatility of specific commodities and sector aggregates. We also compare the quarterly median volatility of the Corona Virus Crisis to previous crisis events.

The media and many other outlets have reported ad nauseam on the crude oil supercontango and negative prices going into expiry, we do not wish to add to the mess. Rather, in Section 3, we have a look at the lean hog market that has, to a large extent, been overlooked during the Corona Virus Crisis.

This is the first long-format HTML review and there will be some growing pains, if you are receiving this document you are one of our chosen guinea pigs and we’d appreciate some feedback.